The Haryana Real Estate Regulatory Authority (H-Rera) on March 14, issued a show cause notice to troubled developer Supertech for four projects registered under H-Rera, in which it has claimed that sales had been initiated without due permissions.
The authority has directed the developer to respond to the notice within a week, asking why penal action shouldn’t be initiated against it.
Under sections 15(1) and 61 of the Real Estate (Regulation and Development) Act, 2016, a developer has to seek permission from the authority before it can start selling a project.
Section 15(1) says the promoter shall not transfer or assign his majority rights and liabilities in respect of a real estate project to a third party, without obtaining prior written consent from two-thirds of all allottees, except the promoter, and without the prior written approval of the authority.
If the developer fails to comply, it shall be liable to a penalty which may be extended up to 5% of the estimated cost of the project.
In case of the four projects under scrutiny, two of which are in Gurgaon with two others in Sohna, H-Rera has proposed a consolidated penalty of Rs 85 crore.
The Chairman of Supertech Group, R K Arora, said, “We’ve not sold any land in Gurgaon as reported. Yet, without any concrete evidence, H-Rera has issued a show cause notice accusing Supertech of selling out or agreeing to sell out the said projects. As a response has been sought from us, we will certainly do so with all facts and evidence.”
Rao Jaswant Singh, Economic Times, Delhi/NCR